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Coty
Inc.
COTY today confirmed that ten Procter & Gamble fragrance
licenses will transfer to Coty upon regulatory approval and completion
of the merger transaction, including Hugo Boss, Gucci, Lacoste, Bruno
Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney,
and Alexander McQueen. The licensors of the Dolce & Gabbana and
Christina Aguilera Perfumes licenses did not provide their consent
within the specified timetable, and in accordance with the transaction
agreement and in the interest of staying on track with the transaction,
it was agreed that these brands will not transfer upon completion of the
merger.
As per the transaction agreement, the assumed debt from the P&G
Specialty
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